As many of you know that follow this blog my father recently passed away and I’ve been called upon to settle his financial affairs. My biggest fear is probate and after studying the tax code I have grown to be of the opinion that it is best to be avoided when possible. This short post on the basics of how to avoid probate was meant to help codify my thoughts. Hopefully you find it helpful.

Probate is essentially the legal process of transferring assets you own at your death to your heirs. It can last up to two years in some states, and involve court costs, attorneys’ and executors’ fees often fixed as a percentage of the assets probated (attorneys can be vultures), as well as unwanted publicity (mainstream media is evil). Read More